The breakout of NZD/USD through the 0.6339 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, we expect the price of NZD/USD to test 0.6304 within the next 2 days. One should always be cautious before placing a trade, wait for confirmation of the breakout before putting any money down.
After testing 0.6339 numerous times, NZD/USD has finally broken through. Can we expect a bearish trend to follow?
